There are lot of different ways to sell a house in Austin but the reality is that each house, each situation, each agent, each seller, each buyer, each month and each lender make for a unique set of circumstances that can affect the home sale.
Don’t listen to your neighbor
Never believe that your next door neighbor knows more about your home’s value than your Austin REALTOR®. This is absolutely the first mistake in pricing your home for sale. Your neighbor has a biased opinion. They want you to increase the value of their home. If you don’t sell the home, it has no affect on them. It does affect you. You did not sell your home.
Stay away from old appraisals
Whatever appraisal value you received in the past does not matter now. Many sellers commonly had their home appraised during a re-finance or home equity line application and believe that value should be their current value. Those appraisals were a part of the super-hype-lending-frenzy period and do not reflect the value of the home today. The appraisal guidelines have become much more conservative. The credit for granite counter tops has dropped to insignificant and comparable properties are scrutinized over and over again through the appraisal quality control system now in place.
Upgrading your home
It is great that you upgraded your home. If you upgraded with weekend trips to Home Depot understand that the buyers in this market know the difference between Home Depot remodels and designer remodels. Don’t get me wrong, any update helps in the selling of a home. But recognize the value of that update is dependent on design, consistency, quality, and whether or not the buyer can tell you did it in a weekend. If you have oak cabinets in the kitchen and then found some cherry cabinets on sale and threw those into the laundry room; buyers notice. If you remodeled for your own personal taste, that is great. I hope you sincerely enjoyed it. If you are remodeling for potential buyers, remodel with quality and consistency in mind. (See our recent article about adding value to your Austin area property with home improvements.)
Curb Appeal does matter. Generally, the first photo taken of any home is the front of the house. That is your first 3- second impression moment. Make sure it counts and catches the buyer’s eye. Move the cars out of the driveway. Take the “home sweet home” sign down. Wash, paint, rake, plant, beautify as if you were holding a wedding on your front lawn this coming Sunday. Truly.
Make your home accessible to showings
Answer every phone call request with a smile, and vacate the property for each showing. Make sure your agent uses a Supra blue-tooth lock box so that every agent that enters your home is recorded (for safety). Then let it be shown. It takes on average 100 people to see the home on line, 10 agents to show the home, for one offer to be generated. You want your home shown a lot! If you only show between 1-4pm on Saturdays, you are limiting your pool of buyers. You are in fact limiting your chances to sell your home.
Review all offers
Have a strategy for offers coordinated with your Austin REALTOR®. When will you review offers? As they come? After the first open house? After two weeks on the market? What are the exceptions? All cash? Listing your home for sale with Owner Financing? Know what the perfect offer looks like by sitting down with your agent and reviewing a typical purchase contract. There are four main considerations, Price, (Owner Financing or not), Time Periods (contingencies), Terms (AS IS- etc), and Emotions. You are suppose to keep emotions out of it. (Remember cool hand?) But the reality is – human connections matter. If you want a young family to have your home over an investor that will turn it into a rental, know that before you put in on the market. Know that, communicate it to Forte Properties, and prepare to manage the deal around it. Only you can decide if that will make a difference in your priorities to sell for highest price to the highest bidder, with cash, before Monday.
Patience and reciting over and over “It ain’t over until it is over” and, another one of my favorites from my dear friend Gabe Bodner, “It is, what it is” will get you through the selling process. For the average Austin home buyer, lending is required and borrowing money today presents a unique challenge that seems to be illogical, inconsistent, and therefore is not predictable. With that said, even cash in not always king. Cash needs to be proven and needs to stay committed to the deal. ince most cash buyers are “deal” buyers, they are ready to pull their cash and go somewhere else at a minute’s notice. In this market, a committed buyer is better than no buyer. The time it takes for a buyer to work out an underwriting glitch may well be worth it. Don’t be too quick to cancel the contract and look for another buyer. If the buyer must withdraw their offer, stay positive and work with your agent to find another buyer. This is the reality of this market place.
Offer Owner Financing
Consider offering Owner Financing as a finance option. In today’s market, there is a large pool of un-lendable buyers looking to purchase an Owner Financed home. If you are unsure about how Owner Financing works, check out our Austin Owner Finance 101 page. Forte Properties can assist you throughout the entire Owner Finance and marketing process to ensure your home gets exposure and when a buyer comes along, the process is completed 100% legal and hassle free. In some cases, you could make money each month by selling your Austin house with Owner Financing.
Trust your REALTOR®
It is assumed you did not choose Forte Properties on a whim. There is a reason sellers give the job of selling their Austin house to us. Remember that reason and don’t hesitate to remind us of that reason. Keep us in touch with your expectations, your concerns, and listen to our advice. We work for you and appreciate your business.
Selling your Austin home means letting go of the memories and the stuff. Neither action is easy. Some people can let go of the memories and they can’t let go of the stuff. Some people let go of the stuff and hold on to the memories to a point of detriment. Look forward to the next phase of your life and realize this ending is the next beginning.